The number of clinical trials is rising; the growing prevalence for chronic and lifestyle associated diseases and surging aging population has led to the increased frequency of pipeline drugs, which need to go through clinical trials before they are approved. While before, clinical trials were taking place in Western Europe and North America, during the recent times, emerging countries, such as Poland, China, South Korea, and India, have become popular destinations for conducting clinical trials. This shift has taken place due to the need for reducing operational cost and getting a large pool of patients.
Attributed to this, the need for e-clinical solution software for the collection of data from investigational center and for helping to use the collected data effectively in less time is increasing. E-clinical solutions are utilized for accelerating the clinical development process. The eClinical solutions market size is expected to grow at a considerable pace in the coming years. Types of solutions offered under e-clinical technology are product and professional services. Between these two, the larger demand was created for e-clinical products in the past, which are further predicted to be more in demand in the near future as well. E-clinical professional services are projected to advance at the faster pace in the coming years.
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Different e-clinical products are safety solution, randomization and trial supply management (RTSM) solution, electronic clinical outcome assessment solution (eCOA), clinical trial management system (CTMS), clinical data management system (CDMS)/electronic data capture solution (EDC), and others. Out of these, the CDMS/EDC solution was the most in demand in the past and is further expected to witness the highest demand in the coming years as well. CDM is the collection, integration, and validation of clinical trial data. It aids in managing data flow and data capture instrument and data collection, which is followed by data quality check procedures for assuring quality and lastly database closure.
A key trend in the e-clinical solutions market is the growing adoption of cloud technology for the development of e-clinical suit. Advanced cloud computing aids enterprises to grasp new business opportunities and innovate at a faster pace. The healthcare industry is widely implementing cloud-based technology for exchanging financial, medical, and associated complex data by healthcare organizations. Moreover, the biopharmaceutical companies are making use of cloud-based technology for reducing the time consumed and managing the cost of clinical trial processes. The cloud-based technology is furthermore becoming an essential strategic decision for pharma IT players as a differentiator.
